MBDA Agency

Long before the concept of STEM entered the American lexicon, African-American scientists, educators, and entrepreneurs were creating important products, services, and businesses that helped shape the American economy. From Benjamin Banneker, a mathematician and polymath in 18th Century Maryland, to Dr. Charles Drew, a 20th Century doctor and blood specialist who revolutionized the process of blood transfusions, our nation has prospered and developed as a global leader in science, economics, and business, thanks to the significant contributions of men and women of color.

The stakes are high: America’s future success in the global arena depends on our ability to foster innovation within communities that historically have been under-served. As the world’s top scientists and engineers pave the way for new breakthroughs across emerging industries, the U.S. continues to be the global leader in science and technology discoveries. The Obama Administration has championed the 21st century STEM revolution.

It’s a long-standing problem that continues to impact businesses and organizations across the nation at every level. A group of more than 100 Asian- American and Pacific Islander (AAPI) business leaders and owners gathered in Washington, DC, to seek answers and develop a plan of action to increase diversity and business opportunities within the AAPI community.

Members of the White House Initiative on Asian Americans and Pacific Islanders(WHIAAPI), the Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (ACE),and the U.S. Department of Commerce, Minority Business Development Agency (MBDA), partnered to host the Asian American and Pacific Islander Employee/Business Resource Group National Roundtable II. The day-long event was held at the U.S. Department of Commerce’s Herbert Hoover Building on Dec. 8, 2015 and hosted by Albert K. Shen, MBDA National Deputy Director.

The U.S. Census Bureau, the Ewing Marion Kauffman Foundation, and the Minority Business Development Agency (MBDA) have teamed together to fund the first annual survey focused on the characteristics of employer businesses and their owners.

MBDA wants to highlight the contributions of the Native American business community to the U.S. economy and the minority business community. Here are some quick facts about Native American-Owned Businesses

Since the first Minority Finance Forum (MFF) a year ago, MBDA Business Centers have been building the only pipeline of its kind, mid-market minority-owned businesses looking for growth financing. After a year of monthly calls where Business Centers discussed challenges and opportunities related to access to capital, the second annual MFF at the Chicago Association for Corporate Growth (ACG) 2015 Midwest Capital Connections was held October 19, 2015. MFF featured panel discussions and extensive networking at the Untitled Supper Club in Chicago, Illinois, with the connection event the next day at Navy Pier presenting over 200 investment bankers, private equity, and other capital sources looking to make deals with businesses and amongst themselves.

The 2015 Minority Enterprise Development Week celebration was held in conjunction with the National Minority Supplier Diversity Council (NMSDC) Conference and Business Opportunity Exchange in San Diego, CA. In this new and innovative collaboration, the Minority Business Development Agency (MBDA) offered several Powered by MBDA sessions that provided the latest information and trends on technology innovation, federal procurement, and international trade. As part of the Powered by MBDA sessions, day four of the NMSDC Conference featured a robust lab-to-market panel discussion moderated by Tyrone C. Taylor from Capitol Advisors on Technology, LLC. The panel included:

Gary Jones - Federal Lab Consortium (FLC), DC Representative,

Marlene M. Owens - Deputy (Acting) for Research and Development Partnerships, Science and Technology Directorate for the Department of Homeland Security (DHS), and

At this year's Minority Enterprise Development Week celebration in San Diego, CA I had an opportunity to speak with two MED Week award recipients who were recognized for their success in the professional services industry. Ideal System Solutions Inc., was awarded as Minority Business Enterprise of the Year, and Acro Service Corporation, was awarded as Minority Professional Services Firm of the Year. Each firm represents best–in-class for service delivery and is recognized for making significant contributions through the creation of jobs, their products and services, and support of their local communities. The awards were presented by MBDA National Director Alejandra Y. Castillo and National Deputy Director Albert Shen.

On October 14th, MBDA signed a Memorandum of Intent (MOI) with the Korea Trade-Investment Promotion Agency (KOTRA), an agency of the Government of the Republic of Korea that aims to make the most of South Korea’s expansive free trade network by supporting partnerships and cooperation between South Korean and foreign companies. For the signing of the MOI, MBDA was represented by National Director Alejandra Y. Castillo, while KOTRA was represented by President and CEO Jaehong Kim who is visiting from South Korea as a member of the delegation accompanying the South Korean President Park Geun-hye’s visit to Washington, D.C. last week.

The MOI focuses on exploring partnerships between Korean diaspora owned businesses in the U.S., other U.S. minority owned businesses, and interested South Korean companies for joint ventures and other business opportunities.

In less than 12 hours, over 7,000 entrepreneurs, businesses, and non-profit entities will begin arriving in San Diego, CA for one of the year’s biggest networking events for minority business enterprises (MBEs). The Minority Enterprise Development (MED) Week was created by a presidential proclamation signed by President Ronald Reagan in 1983 and honors some of the country’s most innovative and emergent minority businesses around the country. This year the Minority Business Development Agency (MBDA) is excited to announce our partnership with the National Minority Supplier Diversity Council, Inc. (NMSDC) to have MED Week in conjunction with the 2015 NMSDC Conference and Business Opportunity Exchange. This conference will allow MBEs to have access to both corporate executives and federal government procurement officials and endless opportunities.

A conference of this size and magnitude can open doors and catapult an organization’s growth and scale by leaps and bounds, however it can also be overwhelming to new entrepreneurs and those unfamiliar of the intricacies of taking full advantage of this type of opportunity. To ensure that an entrepreneur is fully aware of the benefits of MED week we have comprised the following tips: